Hi DX, thanks for the quick reply will use the CI calculator. any suggestions on the transfer to Elderbridge?

Hi DX & Martin, This year just gets better! (wife MS relapse, now me with TIA!). I've received the SAR from GE Money, however it only shows the current interest rate i.e 1.083% monthly (13.8%APR). Although it's not the average, am I alright to use this in the Statutary Interest Calculator? Secondly, there appear to be two types of additional interest, (additional interest + additional interest-SI) do I include both? Finally, the loan has been sold to Elderbridge ltd with the outstanding balance being the remainder of the loan + the charges. (I believe the outstanding charges balance was @£800 before the loan was sold). Do I now contest the balance with Elderbridge? Thanks for any advice in advance, it's been a difficult year.

Hi all, thanks for the replies, I'll SAR GE Money, and as dx says leave the pension where it is. Now back to the battle with PIP.

Hi all, haven't been online for a while due to wife's MS and fighting a battle with PIP (but that's another story). I have a secured loan with GE Money (formerly I Group) with charges for arrears. GE Money increased my payments to recover the charges and I have been looking at trying to reclaim them, but, as there is still several hundred pounds outstanding, I decided not to rock the boat for fear of them trying to repossess and also the effect it may have on OH's health. So I came up with a plan, as I've just turned 55, take a lump sum from pension, pay off charges and then try to recover what I've paid. I have received a letter from GE this week stating that they have sold my account to Elderbridge, (only giving me 7 days notice). Do I now have to go after Elderbridge for a refund or GE Money? I say this because I have already paid GE Money over £2000 in arrears charges and, I assume Elderbridge will want the remainder of the charges. Any advice appreciated.

Thanks Dx, will do.

Hi Dx, I have received the paperwork from Vanquis (CD of audio recordings in post). I had originally based my figures on the APR on my account, (41.1% APR) but after looking at the terms & conditions (finally sent!) it seems that the ROP is charged at 16.63% APR. I have 2 questions, If they did not charge me interest after September XXXX, can I only claim the actual payments back? And, do I assume I use the lower APR in my spreadsheet calculations? By the way, they have upped their offer yet again.

Thanks Dx, will wait 'til Friday when I should get all paperwork.

Hi Dx / ims, Have sent request for all paperwork to Vanquis which should be with me by Friday (according to Vanquis). I have checked my list of transactions on the account and, yes, they did not charge interest from Sept xxxx. I'm not sure how this will affect my claim. Interestingly, I have had two phone calls from Vanquis this week, one to appologise for not sending all info required in SAR (which is now on it's way). The second phone call was to ask if I would be prepared to accept an increased offer as a gesture of goodwill. I'm begining to think that they think they have done something wrong and by upping the offer hope I will accept & go away.

Hi Dx, they sent written transcripts of comms logs & a list of tranactions (not actual copies of statements). The reason I mention audio copies is because in their original letter, they say they have reviewed the recording of the telephone conversation at the opening of my account. This they say proves I asked for ROP, however they have not provided a comms log of my asking to cancel ROP.

The original SAR was sent in January 2012 and a follow up in December 2012.

Thanks all, with regard to mikeymack, my complaint about ROP isn't that they applied it when I didn't ask for it. The complaint is that if my account was over it's limit and I went to make a purchase, the card would be declined because there would be no funds (or credit) available. Vanquis however charged ROP as a transaction to the account even though it was over it's limit & therefore no funds were available for the transaction. Sound reasoning? DX, I have already asked for a SAR, all I received was a list of transactions on the account. There was no signed credit agreement, no terms and conditions & more importantly no audio copies of any phone calls I made to Vanquis or that they made to me, (no surprise then!). I am now going to write back demanding all of the above plus proof that no interest was charged on the ROP after 2010 even though on their website it states interest will be charged on ROP. I will also remind them that if they go to court, they will have to provide all this information, or anything else that they intend to rely on.

Ok Dx, will write to them asking for statement, I'm also going to ask for the terms & conditions + the credit agreement I originally signed up to.

Hi Dx, Hope I've done this right! I've uploaded their reply and also a pdf showing "about ROP" & also "pre-Contract Information" They say this was different to the contract I signed up for, but when I asked for a SAR, they never sent this information. The latest info on their website is similar to the files attached.

Hi ims, Sorry, this is going to be a long one! I have received a reply from Vanquis, they have offered me a partial refund without interest. They state that the terms & conditions I mention were on their website, but have now been updated. The t's & c's on the website were not the t's & c's for my account when it was running, and aslo the t's & c's on their website do not form part of any contract with a customer. They admit that when I got into financial difficulties and contacted them, it was their policy to keep the ROP in place. This has now been amended & they now offer customers the chance to cancel ROP. They also state that ROP is applied to the account as a purchase transaction & will reduce any available credit but does not sit on top of the balance. My way of thinking is that if my account is over it's limit there is no available credit therefore they cannot apply a purchase transaction. I'm going to write back and demand my original terms & conditions (which they never supplied in my SAR) & if they do not comply start legal Proceedings. Any thoughts?

Thanks, ims will get writing.

Hi Ims, I have tried a new tack & sent Vanquis a new complaint. I have dropped the mis-selling part and concentrated on the applying of ROP when my account was over limit (i.e. them breaking their terms & conditions). I received the usual "we have received your complaint and have 56 days to investigate", but, (and I am assuming it's 56 calendar days) are up and no reply. I am going to send them a Letter Before Action giving them 14 days to reply or I will commence legal action. If it goes to court, does the original amount of refund stand (from when the complaint was sent?) or does the interest keep accruing until the court date? and do I need to inform them of this?

Hi ins, yes the case has been looked at by an ombudsman & rejected. I'm now considering just going after them for the ROP levied after I went over my credit limit. What happened was they continued to apply ROP + interest which put me further over my limit. They only stopped the ROP after 1st credit chased me for the debt. I told them that the debt was not reducing & lo & behold Vanquis stopped charging for ROP.

Hi ims, I'm probably being a bit thick here. As I understand it if the FOS review an ombudsmans decision, they cannot change the outcome so.... Vanquis have supplied me with a list of all transactions on the account not duplicate statements. If I take the court route, do I ask for duplicate statements from Vanquis before starting action or would Vanquis have to supply these as evidence if going to court?

Anyone?

Just got my final response from FOS, they have sided with Vanquis. They have not looked at the merits of the case just the fact that Vanquis said I made a complaint when all I did was ask for a SAR and did not contact FOS within 6 months. So.... Does anyone know if I can start a new complaint with Vanquis? My reasoning is as follows: When I first contacted Vanquis, I stated that they charged me for ROP after my account went over it's limit, (in the t&c's it states your account has to be in good order to use ROP ie not over it's limit). I did not find out untill later that their terms & conditions state that ROP is charged as a transaction and taken from available credit. Because I was over my limit, there was no available credit, therfore, in my mind, they broke their own terms & conditions.

Hi azzadle, Quickbridge is Wonga.

thanks dx, will do

Just got my reply from Nationwide - reject complaint. They have ignored the single premium saying i had the paperwork & could have made in informed choice. Pre-existing health issues would not have affected the policy. I complained that I paid the loan off ealy and did not get a rebate of the premiums. They say, rebate applied after final payment made & paperwork sent out (which I have never received, even after asking for SAR!). I think it's looking like off to the FOS.

I forgot to say, I have recently received a letter from them telling me they are about to register a default against me, but, they registered a default on my credit file last year. Typical CFO, if they had accepted a payment plan from the start, the debt would have been paid off by now. They refused to communicate, just send me CFO resolve emails (I have more tha a dozen!) all backed up on a hard drive. Time for a complaint to the OFT me thinks.

They register details with Experian.